Tesla: New Street Research downgrades to 'neutral'
(CercleFinance.com) - New Street Research has downgraded its recommendation on Tesla from "buy" to "neutral" after the stock broke through its 800-dollar target price.
As a reminder, the independent research house raised its target price for the share last month, citing both the carmaker's past performance and its outlook.
This did not prevent the share continuing to soar on Tuesday morning, adding more than 11% to gains of almost 20% yesterday.
At over 868 dollars, the share price has more than doubled since the start of 2020.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
As a reminder, the independent research house raised its target price for the share last month, citing both the carmaker's past performance and its outlook.
This did not prevent the share continuing to soar on Tuesday morning, adding more than 11% to gains of almost 20% yesterday.
At over 868 dollars, the share price has more than doubled since the start of 2020.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.